popular articles

Chinese manufacturers dominate the global wind market in 2024

Goldwind, Envision, and MingYang secured the top three positions in the global wind turbine manufacturing market in 2024, driven by strong domestic demand in China. The decline in installations outside China further strengthened their dominance over Western competitors.

Please share:

The global wind turbine market underwent a major shift in 2024 with the rise of Chinese manufacturers. For the first time, the top three positions in the global ranking were occupied by Chinese companies, confirming the country’s growing influence in the sector. Goldwind maintained its leading position for the third consecutive year with 20 gigawatts (GW) installed, marking an increase of over 20% year-on-year.

A growing domestic market

The expansion of Chinese manufacturers is largely driven by the growth of the domestic market, which reached a record level of over 80 GW in 2024, accounting for more than 60% of the globally connected capacity. This increase of nearly 12% compared to the previous year has strengthened the competitiveness of local companies and solidified their leadership in global markets. Envision and MingYang, which complete the global podium, have benefited from this momentum with significantly increasing installation volumes.

Decline in installations outside China

Conversely, wind turbine installations outside China declined by 9% in 2024, marking a challenging year for Western manufacturers. Vestas maintained its position as the leading non-Chinese manufacturer with more than 10 GW connected. Siemens Gamesa and Nordex followed, but the entire sector faced a challenging environment characterised by regulatory uncertainties and project commissioning delays.

Margin pressures and strategic adjustments

Despite record installation levels, Chinese manufacturers saw their profitability impacted by increased competition and component oversupply. To counter this pressure, they adjusted their pricing strategies, leading to a price recovery in the last quarter of 2024. Meanwhile, Western manufacturers refocused their strategies by concentrating production on core markets, optimising supply chains, and divesting non-strategic activities.

Evolution of the offshore wind segment

In the offshore wind sector, Siemens Gamesa maintained its dominant position despite a slowdown in new connections. Global grid-connected offshore wind capacity declined in 2024 due to accumulated delays and inconsistent policies that hindered new projects. At the same time, the transition to next-generation turbines led to an 18% increase in the global weighted average turbine capacity.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The Montpellier criminal court must rule on the criminal liability of EDF Renouvelables and its subcontractors regarding the excessive mortality of protected birds at the Causse d’Aumelas wind farm, located in a Natura 2000 zone.
FuturEnergy Ireland and SSE Renewables have secured approval to build the Gort Uí Rathaile Wind Farm with 13 turbines near the Cork/Kerry border, strengthening Ireland's energy security.
FuturEnergy Ireland and SSE Renewables have secured approval to build the Gort Uí Rathaile Wind Farm with 13 turbines near the Cork/Kerry border, strengthening Ireland's energy security.
Modvion has obtained TÜV SÜD certification for its wooden wind turbine tower, designed for a 6.4 MW onshore turbine. This validation enables the company to consider mass production and expand its offering in the European market.
Modvion has obtained TÜV SÜD certification for its wooden wind turbine tower, designed for a 6.4 MW onshore turbine. This validation enables the company to consider mass production and expand its offering in the European market.
JERA Co., Inc. and bp have announced the leadership team of their 50-50 joint venture, JERA Nex bp, which aims to become a major player in the development, ownership, and operation of offshore wind energy.
JERA Co., Inc. and bp have announced the leadership team of their 50-50 joint venture, JERA Nex bp, which aims to become a major player in the development, ownership, and operation of offshore wind energy.
Ocean Winds has obtained an electricity business license for its 1.125 GW Hanbando offshore wind project in South Korea. This approval allows the company to initiate the necessary environmental and technical studies for its implementation.
The Canadian and Nova Scotian governments have jointly imposed a moratorium on the development of offshore wind farms in the Georges Bank, aiming to protect this vital marine ecosystem and the local industries dependent on it.
The Canadian and Nova Scotian governments have jointly imposed a moratorium on the development of offshore wind farms in the Georges Bank, aiming to protect this vital marine ecosystem and the local industries dependent on it.
Renewable energy producer Neoen confirms its financial goals for 2025, despite a significant drop in net profit in 2024, mainly due to the high cost of its debt.
Renewable energy producer Neoen confirms its financial goals for 2025, despite a significant drop in net profit in 2024, mainly due to the high cost of its debt.
The German government warns of security risks linked to a Chinese offshore wind farm project in the North Sea, including espionage and disruption of critical infrastructure.
The German government warns of security risks linked to a Chinese offshore wind farm project in the North Sea, including espionage and disruption of critical infrastructure.
The Australian government has granted Novocastrian Wind a feasibility licence for a 2 GW offshore wind farm in the Hunter region of New South Wales, marking a key milestone in the country's renewable energy development.
The Babilônia Centro wind farm, developed in partnership between Casa dos Ventos and ArcelorMittal Brasil, enters commercial production with 28 turbines out of 123. This launch marks a 13-week advancement from the original schedule.
The Babilônia Centro wind farm, developed in partnership between Casa dos Ventos and ArcelorMittal Brasil, enters commercial production with 28 turbines out of 123. This launch marks a 13-week advancement from the original schedule.
Eurus Energy has begun the replacement of the Eurus Mameda Wind Farm in Yokohama, a reconstruction project that will install cutting-edge wind turbines.
Eurus Energy has begun the replacement of the Eurus Mameda Wind Farm in Yokohama, a reconstruction project that will install cutting-edge wind turbines.
The global offshore wind industry is expected to see a rebound in 2025, with capacity additions reaching 19 GW and total projected investments of $80 billion, according to Rystad Energy's forecasts.
The global offshore wind industry is expected to see a rebound in 2025, with capacity additions reaching 19 GW and total projected investments of $80 billion, according to Rystad Energy's forecasts.
The Prefect of Nord has given the green light for the creation of an offshore wind farm near Dunkirk, sparking both support for the energy transition and opposition in France and Belgium.
In 2024, Engie reached a record performance in the renewable energy sector, adding 4.2 GW of new capacity and raising its total to 46 GW. The group also raised its financial forecasts for 2025.
In 2024, Engie reached a record performance in the renewable energy sector, adding 4.2 GW of new capacity and raising its total to 46 GW. The group also raised its financial forecasts for 2025.
Copenhagen Infrastructure Partners (CIP) has signed an agreement to acquire the 480 MW Morecambe offshore wind project, located off the coast of Lancashire, from COBRA Group and Flotation Energy.
Copenhagen Infrastructure Partners (CIP) has signed an agreement to acquire the 480 MW Morecambe offshore wind project, located off the coast of Lancashire, from COBRA Group and Flotation Energy.
ACWA Power has signed a 25-year power purchase agreement (PPA) with EETC for the development of a 2 GW wind project in Egypt, representing a USD 2.3 billion investment and helping the country increase its renewable energy share.
ACWA Power has signed a 25-year power purchase agreement (PPA) with EETC for the development of a 2 GW wind project in Egypt, representing a USD 2.3 billion investment and helping the country increase its renewable energy share.
The Canadian company Innergex has announced a tax equity investment for its Boswell Springs wind farm, as part of its expansion into the U.S. renewable energy sector. This move aims to optimize tax returns while strengthening its asset portfolio.
Siemens Gamesa announces a €200 million investment to expand its Le Havre factory. The goal: to produce longer and more powerful wind turbine blades to remain competitive against China, the global leader in the sector.
Siemens Gamesa announces a €200 million investment to expand its Le Havre factory. The goal: to produce longer and more powerful wind turbine blades to remain competitive against China, the global leader in the sector.
Qualitas Energy appoints Clemens Susen as Head of Investment for Germany. Under the leadership of Johannes Overbeck, Co-CEO, he will oversee capital allocation toward strategic wind projects, focusing on repowering and greenfield developments.
Qualitas Energy appoints Clemens Susen as Head of Investment for Germany. Under the leadership of Johannes Overbeck, Co-CEO, he will oversee capital allocation toward strategic wind projects, focusing on repowering and greenfield developments.
Eurus Energy announces the commissioning of the Ashikawa Wind Farm, completing the Dohoku Wind Power Generation project in northern Hokkaido. This project increases the total capacity to 434.5 MW, strengthening energy production in a region with limited electrical infrastructure.
Eurus Energy announces the commissioning of the Ashikawa Wind Farm, completing the Dohoku Wind Power Generation project in northern Hokkaido. This project increases the total capacity to 434.5 MW, strengthening energy production in a region with limited electrical infrastructure.
Canada joins the Global Offshore Wind Alliance (GOWA), reinforcing its presence in the offshore wind sector. This initiative aims to structure the industry, attract investments, and position the country in the global marine energy market.
The Adani group withdraws from its $442 million wind farm project in Sri Lanka after tensions with the government, which decided to renegotiate the electricity purchase agreement and reassess the project.
The Adani group withdraws from its $442 million wind farm project in Sri Lanka after tensions with the government, which decided to renegotiate the electricity purchase agreement and reassess the project.
Scatec ASA has concluded the sale of its Dam Nai wind farm in Vietnam to the SUSI Asia Energy Transition Fund, with an initial payment of USD 27 million, along with additional contingent payments.
Scatec ASA has concluded the sale of its Dam Nai wind farm in Vietnam to the SUSI Asia Energy Transition Fund, with an initial payment of USD 27 million, along with additional contingent payments.
Aker Solutions has signed a contract with Dragados Offshore to manufacture the steel substructure for the HVDC converter station of the BalWin 1 project in Germany. This 2 GW project is being developed for the Amprion Offshore GmbH grid.
Aker Solutions has signed a contract with Dragados Offshore to manufacture the steel substructure for the HVDC converter station of the BalWin 1 project in Germany. This 2 GW project is being developed for the Amprion Offshore GmbH grid.

Advertising